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Project Overview
Lighter is a perpetual trading protocol that introduces a scalable, secure, transparent, non-custodial, and verifiable order book trading infrastructure within the Ethereum ecosystem. As an application-specific zk-rollup, it employs advanced cryptographic techniques and data structures. Lighter significantly improves the security and fairness of order book trading with its verifiable matching engine, ensuring scalable and efficient market price discovery. Thus, Lighter lays the groundwork for creating new, high-performance, and secure digital trading platforms.
Lighter Founder: All Economic Value of Lighter Will Flow to the Token, with the Equity Structure Converted to a Token Structure at TGE
Lighter founder Vladimir Novakovski published an article on X this morning titled "Equity and Tokens."In the article, Novakovski clarified that all economic value generated by Lighter will belong to token holders.Lighter's original intention has always been to use venture capital to bootstrap the project until the moment of token issuance. Lighter is a U.S. company and exists as a single entity — the entity that issued equity in the years leading up to TGE is the same entity that issued tokens at TGE. Apart from converting to a token cap table at TGE, the equity cap table will have no further function in the future.More specifically, Lighter completed its final equity financing round a few months before TGE, which was oversubscribed by approximately 5 times, attracting over $300 million in capital interest against a $68 million allocation. At that time, all equity stakeholders (including early investors and former employees) were informed of the future plan — that their equity value would only be reflected as holdings on the token cap table — and were given the opportunity to sell their equity stakes. Anyone who disagreed with the philosophy that "all value belongs to the token" could easily exit at a higher valuation. Ultimately, less than 1% of equity holders chose to sell their shares, while the rest chose to stay, thereby supporting Lighter's commitment to "value accruing to the token."
Fun Raises $72 Million in Series A Funding, Led by Multicoin Capital and SignalFire
According to Fortune, payments infrastructure startup Fun has announced a $72 million Series A funding round, co-led by Multicoin Capital and SignalFire, with participation from Infinity Ventures, Pharsalus Capital, and Justin Mateen, co-founder of Tinder. Fun primarily provides cryptocurrency and fiat deposit/withdrawal infrastructure for platforms such as Polymarket, Lighter, and Aave, processing over $18 billion in annual payments. The company plans to use the new funds to expand its team of approximately 30 people.
Lighter Founder Appointed to CFTC Innovation Advisory Committee
Odaily Odaily: Lighter founder and CEO Vladimir Novakovski posted on X: "As the United States celebrates its 250th anniversary, I am proud to have been building Lighter here from the very beginning. This year, I have also started doing my small part — serving as a member of the Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee."Odaily Note: The Innovation Advisory Committee was established to advise the CFTC on complex issues at the intersection of technology, law, policy, and finance.
Robinhood Chain Mainnet Launches, Simultaneously Introducing Tokenized Stocks, Perpetual Contracts, and AI Agent Trading
Robinhood has announced the official launch of the public mainnet for its proprietary Layer 2 network, Robinhood Chain. Built on the Arbitrum technology stack, the chain is positioned as an institution-grade, permissionless, AI-native network specifically designed for Real World Assets (RWA).Robinhood Chain's launch partners include Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Among them, Uniswap will deploy a dedicated AMM on the chain as the primary public liquidity protocol, while Pleiades will deploy its own AMM as the primary proprietary trading venue. The chain will also offer basic DeFi functionalities such as lending.Eligible users can trade tokenized stocks 24/7 on Robinhood Chain. Simultaneously, Robinhood Earn will introduce USDG-based decentralized lending products within the main app. In certain jurisdictions, the new version of Robinhood Wallet will also support access to Lighter's perpetual contract trading.Robinhood also announced the expansion of its European perpetual contract product range, its official entry into the Canadian market, and the acquisition of a Singapore Capital Markets Services license. Furthermore, Agentic Accounts for crypto trading are planned to begin rolling out in the US soon, allowing AI agents to participate in trading and fund management.Robinhood stated that this update represents its most ambitious global expansion and product vision to date, with the goal of establishing a more direct connection between traditional finance and DeFi, integrating stocks, crypto, RWA, perpetual contracts, and AI trading into a unified financial experience. (The Block)
Bankless founder: Regrets not buying more LIT
Bankless founder David Hoffman posted on X, expressing regret for not buying more Lighter (LIT).Hoffman explained that the logic behind investing in Lighter is simple:1. Exchanges have always been the best business model in the crypto industry;2. Perpetual contracts are still a brand-new track, far from reaching maturity;3. Building an exchange based on zkL2 is currently the structurally optimal solution, offering high security, low operating costs, and high profit margins;4. The product itself is also the strongest on the market, with the lowest latency, the lowest execution costs, and full transparency;5. The engineering team is highly capable, having solved all the technical challenges;6. The company is headquartered in the United States, operates in compliance, and this market remains a largely untapped blue ocean;7. It also serves as an option betting on the "Tokenization of compliant assets";8. Founder Vlad is in the right circles, knows the right people, and has the ambition to do great things.
A whale with historical profits exceeding $38.75 million went heavily long on ZEC and LIT after months of silence, with a total position value of approximately $10.99 million.
According to on-chain analyst Onchain Lens (@OnchainLens), a whale wallet with historical cumulative profits exceeding $38.75 million has reactivated after months of silence. Several hours ago, it deposited $892,000 USDC into Hyperliquid and staked HYPE, then opened two long positions: 14,290 ZEC (approximately $7.01 million, 10x leverage) and 1.62 million LIT (approximately $3.98 million, 5x leverage), with a total position size of approximately $10.99 million. Additionally, the wallet has placed limit orders planning to buy another 10,032 LIT.
A whale has consolidated approximately $5.85 million worth of HYPE and LIT into a single wallet
Odaily reports, according to Onchain Lens monitoring, a whale has consolidated approximately $5.85 million worth of HYPE and LIT into a single wallet, possibly accumulated via Galaxy Digital, including 78,100 HYPE worth $5.25 million and 263,700 LIT worth $601,000.
A whale has spent a total of $3.03 million to purchase 1.358 million LIT tokens, with 572,900 LIT bought in the past 24 hours
Odaily Planet Daily reported that according to Onchain Lens monitoring, over the past 24 hours, a whale spent 850 WETH to purchase 572,900 LIT tokens, valued at $1.52 million. As of now, the whale has spent a total of $3.03 million to acquire 1.358 million LIT, with an average price of $2.23.
An address exchanged 1,126.44 ETH for 5,776 LIT, incurring a loss of nearly $2 million
According to monitoring by on-chain analysis platform Lookonchain (@lookonchain), an address swapped 1,126.44 ETH, worth approximately $2.01 million, for only 5,776 Litentry, valued at around $14,200, incurring a loss of nearly $2 million in a single transaction.
巨鲸 mk4 持 LIT 5 倍多头浮盈超 355 万美元，整体持仓累计利润逼近 4100 万美元
据链上分析师 Onchain Lens（@OnchainLens）监测，随着 LIT 价格突破 2 美元，知名链上交易员 mk4（@mk4_lul）持有的 LIT 5 倍多头头寸浮动盈利已超 355 万美元。其同时持有 BTC、AAVE、WLD、XPL、MU、黄金及白银的多空头寸，整体浮动利润约 400 万美元，累计总利润已逼近 4100 万美元。
Bankless co-founder discloses entry costs for some portfolio tokens: NEAR ~$1.40, HYPE ~$45
Odaily Odaily News: Bankless co-founder David Hoffman responded to investors by disclosing his entry costs for four major tokens: NEAR, HYPE, ZEC, and LIT. Among them, the entry price for NEAR was approximately $1.40, HYPE around $45, ZEC about $560, and LIT approximately $1.35. According to previous reports, after liquidating his ETH holdings, the founder split the capital allocation, deploying 50% of the principal into VVV, NEAR, ZEC, and HYPE. The remaining 50% was kept for periodic dollar-cost averaging, with the subsequent funds fully used to purchase LIT.
Lighter Founder: All Economic Value of Lighter Will Flow to the Token, with the Equity Structure Converted to a Token Structure at TGE
Lighter founder Vladimir Novakovski published an article on X this morning titled "Equity and Tokens."In the article, Novakovski clarified that all economic value generated by Lighter will belong to token holders.Lighter's original intention has always been to use venture capital to bootstrap the project until the moment of token issuance. Lighter is a U.S. company and exists as a single entity — the entity that issued equity in the years leading up to TGE is the same entity that issued tokens at TGE. Apart from converting to a token cap table at TGE, the equity cap table will have no further function in the future.More specifically, Lighter completed its final equity financing round a few months before TGE, which was oversubscribed by approximately 5 times, attracting over $300 million in capital interest against a $68 million allocation. At that time, all equity stakeholders (including early investors and former employees) were informed of the future plan — that their equity value would only be reflected as holdings on the token cap table — and were given the opportunity to sell their equity stakes. Anyone who disagreed with the philosophy that "all value belongs to the token" could easily exit at a higher valuation. Ultimately, less than 1% of equity holders chose to sell their shares, while the rest chose to stay, thereby supporting Lighter's commitment to "value accruing to the token."
Lighter has been integrated into Robinhood Wallet, allowing users to trade perpetual contracts directly through the wallet.
Lighter officially announced on X that Lighter has now been integrated into Robinhood Wallet. Through this wallet, users can access native in-app perpetual contracts and tokenized stock trading supported by Lighter, and use USDG as the base quote asset.
Robinhood Chain Mainnet Launches, Simultaneously Introducing Tokenized Stocks, Perpetual Contracts, and AI Agent Trading
Robinhood has announced the official launch of the public mainnet for its proprietary Layer 2 network, Robinhood Chain. Built on the Arbitrum technology stack, the chain is positioned as an institution-grade, permissionless, AI-native network specifically designed for Real World Assets (RWA).Robinhood Chain's launch partners include Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Among them, Uniswap will deploy a dedicated AMM on the chain as the primary public liquidity protocol, while Pleiades will deploy its own AMM as the primary proprietary trading venue. The chain will also offer basic DeFi functionalities such as lending.Eligible users can trade tokenized stocks 24/7 on Robinhood Chain. Simultaneously, Robinhood Earn will introduce USDG-based decentralized lending products within the main app. In certain jurisdictions, the new version of Robinhood Wallet will also support access to Lighter's perpetual contract trading.Robinhood also announced the expansion of its European perpetual contract product range, its official entry into the Canadian market, and the acquisition of a Singapore Capital Markets Services license. Furthermore, Agentic Accounts for crypto trading are planned to begin rolling out in the US soon, allowing AI agents to participate in trading and fund management.Robinhood stated that this update represents its most ambitious global expansion and product vision to date, with the goal of establishing a more direct connection between traditional finance and DeFi, integrating stocks, crypto, RWA, perpetual contracts, and AI trading into a unified financial experience. (The Block)
Upbit to List Multiple Tokens, Including PEAQ and LIT, on BTC and USDT Markets
According to an official announcement, South Korean crypto exchange Upbit will list the PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP tokens on its BTC and USDT markets. Trading for these tokens will begin at 3:00 PM local time on June 19.
Lighter updates buyback data: Over 15 million LIT repurchased, accounting for 6% of circulating supply
Lighter official posted on X updating the protocol's buyback data, indicating that since TGE, over 15 million LIT tokens have been repurchased, representing approximately 6% of the circulating supply.
Lighter Completes L2 "Escape Mechanism" Verification, Enabling Users to Withdraw to Mainnet Despite Sequencer Failures
Lighter officially announced on X that the "escape mechanism" verification conducted by third-party auditor L2BEAT has been completed. This means that even if the sequencer on the L2 layer malfunctions, users can permissionlessly withdraw funds from Lighter's L2 back to Ethereum, making Lighter the industry's first L2 Perp DEX to achieve this functionality.
Related news
Lighter Founder: All Economic Value of Lighter Will Flow to the Token, with the Equity Structure Converted to a Token Structure at TGE
Lighter founder Vladimir Novakovski published an article on X this morning titled "Equity and Tokens."In the article, Novakovski clarified that all economic value generated by Lighter will belong to token holders.Lighter's original intention has always been to use venture capital to bootstrap the project until the moment of token issuance. Lighter is a U.S. company and exists as a single entity — the entity that issued equity in the years leading up to TGE is the same entity that issued tokens at TGE. Apart from converting to a token cap table at TGE, the equity cap table will have no further function in the future.More specifically, Lighter completed its final equity financing round a few months before TGE, which was oversubscribed by approximately 5 times, attracting over $300 million in capital interest against a $68 million allocation. At that time, all equity stakeholders (including early investors and former employees) were informed of the future plan — that their equity value would only be reflected as holdings on the token cap table — and were given the opportunity to sell their equity stakes. Anyone who disagreed with the philosophy that "all value belongs to the token" could easily exit at a higher valuation. Ultimately, less than 1% of equity holders chose to sell their shares, while the rest chose to stay, thereby supporting Lighter's commitment to "value accruing to the token."
Lighter: HYPE and ZEC experienced brief violent fluctuations, resulting in a trading bot losing approximately $482,000
Lighter tweeted about a trading bot malfunction on July 25, which briefly impacted the HYPE and ZEC markets.During the incident, the HYPE price hit $60.96 and $56.31 within half a minute, while the external market price was around $58 during the same period. The price subsequently recovered within one minute. There were no forced liquidations across the entire market, and the losses were limited to the account that triggered the issue.The bot started with $500,000 in capital and executed $27 million in round-trip trades on HYPE within 5 minutes, accounting for 74.2% of the market volume. On ZEC, it generated $220.8 million in taker volume, representing 86.7% of the total, causing the ZEC price to briefly spike to $521.Lighter stated that the risk engine marked positions using a manipulation-resistant fair price and rejected 801 orders when margin was insufficient. Ultimately, the bot lost approximately $482,000, all of which were its own funds. The Lighter Liquidity Pool (LLP) gained roughly $143,000, and 40 independent accounts each realized profits exceeding $1,000.
Bitcoin holds near three-week highs, ETH hovers around levels last seen since June 3
Bitcoin has stabilized near its highest point in about three weeks, while ETH remains around its highest level since June 3. Gains following lower-than-expected US inflation data have been capped by tensions between the US and Iran. HYPE rose 4%, with a target of new highs above $78, supported by a trend of rising highs and lows since May. LIT stalled due to profit-taking after approaching its all-time high of $2.76, and CoinMarketCap’s altcoin season index has dropped to 46/100. (CoinDesk)
Lighter has completed the historical buyback token burn, destroying a total of approximately 15.64 million tokens
Lighter officially posted on X, stating that the previously announced historical buyback token burn has been completed, with a total of 15,638,702 LIT tokens destroyed. These tokens will be permanently removed from circulation.
A whale with historical profits exceeding $38.75 million went heavily long on ZEC and LIT after months of silence, with a total position value of approximately $10.99 million.
According to on-chain analyst Onchain Lens (@OnchainLens), a whale wallet with historical cumulative profits exceeding $38.75 million has reactivated after months of silence. Several hours ago, it deposited $892,000 USDC into Hyperliquid and staked HYPE, then opened two long positions: 14,290 ZEC (approximately $7.01 million, 10x leverage) and 1.62 million LIT (approximately $3.98 million, 5x leverage), with a total position size of approximately $10.99 million. Additionally, the wallet has placed limit orders planning to buy another 10,032 LIT.
A whale has consolidated approximately $5.85 million worth of HYPE and LIT into a single wallet
Odaily reports, according to Onchain Lens monitoring, a whale has consolidated approximately $5.85 million worth of HYPE and LIT into a single wallet, possibly accumulated via Galaxy Digital, including 78,100 HYPE worth $5.25 million and 263,700 LIT worth $601,000.